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German commercial balance improves, but industrial production disappoints

Written By Richard Perry | 2018-08-07 06:31:00 GMT

Indeed, given at -0.90% (consensus: -0.50%), m/m June industrial production figure along with y/y numbers are lower, suggesting a global slowdown in manufacturing activities across the country, despite strong economic numbers in May.

Therefore, we expect Q2 GDP q/q numbers (published on 14. August 2018) to remain slightly above Q1, along 0.40% while it should slow down in the next periods. Strong economic confidence, private consumption and inflation at 2% remain supportive for the second quarter 2018.

EUR/USD is currently trading at 1.1586, expected to decline along 1.1555 in the short-term.

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By Richard Perry
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